Global Luxury Travel Market Global Production, Growth, Share, Demand and Applications Forecast to 2029

Market Overview

Most comprehensive Luxury Travel Market segmentation report published by an intelligence marketing and business consulting firm indicates the lucrative is expected in the Luxury Travel market through the forecast period 2022-2029. The report gives brief description of Luxury Travel market segments on global Luxury Travel market and industry basis to its readers and is also profitable for the key players and new entrants of the market.

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Market Scope

The report consists of the in-depth analysis of the market trends with help the of the micro and macro variables in detail. The research includes the pinpoints of the market sizing and forecasts quipped with current environmental and other ongoing developments that would affect the Luxury Travel market. For the competitive analysis the major factors of the Luxury Travel market are analysed thoroughly to help clients gain an edge over their competitors. The analysis is conducted based on their position in the market and revenue generated, profit margins, marketing strategies and technological advancements and product differentiation. The customizable reports help manufacturers in making study of competitors and the new entrants and their strategies and tactics for market. The combination of primary and secondary data is used for qualitative and quantitative analysis of the Luxury Travel market. Thus the report acts as a tool for a clear understanding of the Luxury Travel market and its utilization.

Luxury Travel Market Segmentation

According to Categories of Trip, Adventure & Safari dominated the luxury travel market in 2021 and is anticipated to continue to do so during the forecast period. The best outdoor adventure trips are frequently regarded as safaris. Apart from physically strenuous activities, this industry, which is among the fastest expanding, is also known for personalised itineraries and soft experiences. Seeing natural treasures like the Galapagos Islands and boating in the Mediterranean are also included. Bike rides, scuba diving, specialised explorations, arctic expeditions, and night safaris through African rainforests are further examples of luxury adventure and safari excursions. The market for this niche is projected to grow quickly as consumers' desire in transformational and engaged activities increases.

Depending on age group, Baby Boomers dominated the luxury travel market in 2021 and are anticipated to continue to do so during the forecast period. The most frequent luxury travellers are between the ages of 50 and 65, who make an average of 4-5 trips annually. Although baby boomers are the age group that spends the most money on travel, just 5–10% of market players target them. Baby boomers are predicted to receive $15 trillion over the next 20 years and control 70% of the country's discretionary money. The majority of baby boomers are anticipated to enjoy leisure travel, with 45% travelling both domestically and abroad and 5% only doing so.

According to Categories of Traveler, Absolute Luxury dominated the luxury travel market in 2021 and is anticipated to continue to do so during the projected period. Absolute luxury households are those with a net worth of at least $30 million, spend more than $230 billion annually on upscale goods, and make up more than 20% of all upscale purchases, including vacation. Travel is still a common choice for affluent clients because touring is a fantastic alternative for high-budget vacationers. When travelling in search of one-of-a-kind and spectacular experiences, absolute travellers need to take time for physical and spiritual refreshment. Absolute luxury travellers are gaining popularity for itineraries that offer rich and unique travel experiences, which is fueling the growth of the global luxury travel business.

Luxury Travel Key Players 

• Abercrombie & Kent USA, LLC (US)
• Virtuoso, Ltd. (US)
• Micato Safaris, Inc. (US)
• Ker & Downey (US)
• Tauck, Inc. (US)
• BLACK TOMATO GROUP (US)
• Kensington Tours Ltd. (US)
• Zicasso, Inc. (US)
• Backroads (US)
• Lindblad Expeditions (US)
• Asia Transpacific Journeys (US)
• Journeys 360 Travel (US)
• Ovation Travel Group (US)
• Exodus Travels (Canada)
• Butterfield & Robinson Inc (Canada)
• TUI Group (Germany)
• Scott Dunn Ltd (UK)
• Voyage Prive (UK)
• Wexas Limited (UK)
• Thomas Cook Group Plc (UK)
• Mlkjets (UK)
• BubbleGlobe (France)
• CellerTours (Spain)
• So Me Travel (Austria)
• Cox & Kings Ltd (India)
• Lightfoot Travel (Singapore)

Regional Analysis

The Luxury Travel market was held by the Asia Pacific region in 2021 and is expected to grow at a significant rate over the forecast period. Regional growth is being led by the increasing populations in growing economies. The government initiatives also affect the in growth of the market regionally, it gives the manufacturers a lucrative opportunities to their production. With the help of the Luxury Travel market report the new entrants of the market can understand the regional market and apply their new strategies for the industry.

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Key Questions answered in the Luxury Travel Market Report are:

• What is Luxury Travel Market?
• What is the forecast period of the Luxury Travel Market?
• What is the competitive scenario of the Luxury Travel market?
• Which region held the largest market share in the Luxury Travel Market?
• What are the opportunities for the Luxury Travel Market?
• What factors are affecting the Luxury Travel market growth?
• Who are the key players of the Luxury Travel market?
• Which company held the largest share in the Luxury Travel market?
• What will be the CAGR of the Luxury Travel market during the forecast period?
• What key trends are likely to emerge in the Luxury Travel market in the coming years?

Key offerings:

• Market Share, Size, and Forecast by Revenue|2022-2029
• Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
• Market Segmentation: A detailed analysis by Luxury Travel
• Landscape- Leading key players and other prominent key players.

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